LFNC Legacy Society member, Fred Sommer, recently chose to make a major gift to the LFNC.  Fred stated, “Realizing that the IRA Rollover Option to benefit charities was expiring on 12/31/07, I chose to change my will so that I could take advantage of the IRA Rollover Option that is set to expire on 12/31/07.  As a result, I was able to make a $70,000 gift from my IRA to the LFNC which will immediately benefit its programs.”

“I made this gift in memory of my wife, Olga, who died a year ago.  Olga lived with lupus for more than 20 years, and whenever able, we attended the LFNC conferences and other activities. For a couple of years she headed up the San Mateo County Lupus Support Group of the LFNC.”

“Both Olga and I mentioned the LFNC in our estate plans because we felt very strongly that educating people about lupus, and sponsoring lupus research to find a cure for this disease, was an extremely important part of our lives.”

The legislation that created the IRA Rollover Option is, as stated by Mr. Sommer, set to expire on 12/31/07.  While efforts continue to have Congress extend this wonderful legislation, its failure to do so should not prevent you from using your IRA to benefit the LFNC. As has always been the case, you can name the LFNC as either a primary or contingent beneficiary of your IRA.  By doing so, your gift of a portion or all of your IRA will become effective at your death.  The manner in which this designation is worded is critical in order to ensure that your estate will receive the tax benefits from this gift.  We urge you to consult your tax attorney or other financial advisors to assist you with this matter.